BP and Shell HQs Raided by European Commission on Oil Price Fixing Suspicion
Two of Britain’s biggest oil companies’ London headquarters were raided by EU investigators yesterday, over allegations that customers have been ripped off at the petrol pump for years. The officers from the European Commission’s competition authority searched BP and Shell’s offices, to look for evidence of price rigging. In the wake of the Libor interest rate manipulation scandals, the EC has launched an investigation on what could be the next price fixing scandal by these big oil companies conspiring to inflate oil prices and, in turn, the cost of petrol. The Commission stated that the anti-competitive co-operation may also have…
The Secret Story of the World’s Oil Domination: Who Are the Seven Sisters?
Yesterday, Al Jazeera News Network aired the first episode of a four part documentary series titled “The Secret of the Seven Sisters”, which reveals how a secret pact was signed in 1928 to form a cartel that controls the world’s oil to this day. In 1928, three main global petroleum producers met in the Scottish castle named Achnacarry, to sign a secret contract in order to control and distribute the world’s oil and the profits from the oil business. The agreement is known as the Achnacarry Agreement, or “As-Is” Agreement, was signed on September 17th, 1928. Documentary depicts how the…
Nigerian Farmers vs. Royal Dutch Shell
“The scale of the pollution is enormous: twice as much oil has been spilled in Nigeria than was in the Gulf of Mexico. Only there (Nigeria) it’s never been cleaned up.” – Friends of the Earth Netherlands spokesman, Geert Ritsema The headlines on January 30 were somewhat ominous: Dutch court rejects claims made by Nigerian farmers. Court sides with Royal Dutch Shell. Nigerian farmers lose bid to hold Shell accountable. But why? In a world where headlines sell, isn’t the sexier story “Nigerian farmer scores victory against oil giant in landmark environmental suit”? Because that’s what happened. In 2008, four…
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